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GE HealthCare Technologies reported a decline in its stock value, falling up to 12% pre-market, after missing first-quarter earnings and revenue estimates. The company posted an adjusted EPS of $0.90, slightly below the expected $0.91, and sales of $4.650 billion, missing the forecast of $4.801 billion. The underperformance was attributed to weaker demand in the China market and for its scanning devices. Despite the quarterly miss, GE HealthCare reaffirmed its full-year 2024 guidance, expecting organic revenue growth of approximately 4% year-over-year and an adjusted EBIT margin between 15.6% and 15.9%.
GE HealthCare Technologies missed first-quarter revenue estimates on Tuesday, hurt by lower sales in China market and weaker-than-expected demand for its scanning devices, sending its shares tumbling as much as 12% before the bell. https://t.co/HtvMDUUeB1 https://t.co/HtvMDUUeB1
GE Healthcare shares sank in today's session after missing on earnings, but @JimCramer believes the weakness in $GEHC could be a good buying opportunity. @CNBC @CarlQuintanilla @DavidFaber https://t.co/X1GLFnDbG6
$GEHC (-8.1% pre) GE HealthCare slips on Q1 miss - SA https://t.co/IaC51By9ig
